Hedera HBAR Coin: Analysis and Predictions for the Near Future

Bittime - Hedera (HBAR) is increasingly showing strength after breaking out of its last downside pattern, indicating potential for further upside. With increasingly strong bullish momentum, many expect HBAR to enter a more significant growth phase in the near future. In this article, we will discuss the latest technical analysis from HBAR, as well as predictions of price movements for the next few weeks.

HBAR Bullish Strength and Momentum

After reaching a peak price of $0.39 in early December 2024, HBAR entered a significant correction phase throughout the month. However, based on the latest technical signals, there are indications that HBAR is entering a new bullish phase. Elliott Wave analysis shows that the wave 4 correction has been completed, and the impulsive wave 5 may have started.

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One important indicator that shows a potential bullish movement is the breakout of the descending wedge pattern that occurs on the HBAR chart. This pattern indicates that positive momentum is starting to return, with HBAR successfully maintaining a new high.

HBAR Technical Analysis

On the 4-hour chart, we can see that after completing wave 3 on December 3, 2024, HBAR experienced a correction phase in the form of an ABC pattern. The price fell to the $0.23 level on December 20, 2024, testing the 0.618 Fibonacci retracement level. However, subsequent price action showed an impulsive move, with HBAR price managing to break the $0.33 level on December 25, 2024.

After that, HBAR price experienced consolidation and formed another descending wedge pattern. On January 1, 2025, HBAR recorded a new low of $0.26, but managed to maintain that level, indicating growing buying interest.

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The Relative Strength Index (RSI), which previously showed oversold conditions, is now moving upwards, giving a signal that market sentiment is starting to improve. Additionally, Fibonacci retracements suggest a support level around 0.382, while major resistance at $0.32 becomes a hurdle to break for further movement.

HBAR Price Prediction in the Near Future

Based on existing technical analysis, HBAR is predicted to continue its bullish phase. After completing wave 2 of the Elliott Wave structure, the price managed to break its final descending trendline, indicating that wave (iii) has begun. A rise of 11% took HBAR price to the $0.30 level, with Fibonacci extensions indicating an important resistance area.

If the bullish momentum continues, the next target for HBAR could be around $0.41, which coincides with the 1.618 Fibonacci extension. However, if the price fails to maintain levels above $0.28, the downside risk will be greater. The first support level is located at $0.26, and if the price falls further below $0.23, this bullish scenario will invalidate, potentially extending the correction pattern into a larger WXY structure with a price target of $0.19.

Important Levels to Pay Attention to

For HBAR traders and investors, here are the key levels to watch in the near term:

• Nearest Resistance: $0.30 (breakout confirmation zone)
• Second Resistance: $0,32 (level retracement Fibonacci 0,618)
• Main Resistance: $0.38 (1.272 Fibonacci extension for wave (iii))
• Nearest Support: $0,29 (level retracement Fibonacci 0,382)
• Second Support: $0,26 (level retracement Fibonacci 0,5)
• Critical Support: $0,23 (level retracement Fibonacci 0,618)

Conclusion

Hedera (HBAR) is showing signs of strength with a breakout from its long-dominated bearish pattern. With bullish signals such as a wedge breakout and improvements in the RSI indicator, HBAR has the potential to continue its positive movement towards higher prices. However, investors and traders must remain alert to existing support and resistance levels, because fluctuating price movements can occur at any time.

Based on current analysis, HBAR appears poised to enter a bullish phase, with the price likely heading towards $0.41 if positive momentum continues. However, if the price is unable to maintain a certain level, the downside risk also remains.

FAQs about Hedera (HBAR)

1. What is Hedera (HBAR)?

Hedera (HBAR) is a blockchain platform designed to enable the development of decentralized applications (DApps) at high speed and low cost. HBAR is the native token of the Hedera network, used to pay transaction fees and as a tool to secure the network.

2. What is the current price of HBAR in Rupiah?

Currently, HBAR prices range between $0.274 (around Rp. 4,440) to $0.311 (around Rp. 5,050). These prices can fluctuate rapidly, so it is important to monitor price movements in real-time via a trading platform or cryptocurrency website.

3. What affects the price of HBAR?

The price of HBAR is influenced by various factors, including market supply and demand, Hedera-related news and developments, as well as general cryptocurrency market conditions. Technical indicators such as ADX and Ichimoku Cloud can also provide insight into potential future price movements.

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Reference

CCN, Hedera (HBAR) Points to Continued Strength as Breakout Gains Traction, accessed January 5, 2025.

Author: MF